Dive Brief:
- Dole CEO David Murdock faced hours of questioning during his trial Feb. 23, as the case attempts to determine whether Murdock allegedly coerced the board into agreeing to privatization of the company in 2013 as well as the exact finances involved.
- Murdock alleged that he had "no knowledge" of forecast earnings before interest, taxes, depreciation, and amortization.
- According to Bloomberg, Murdock said that "sometimes 'hundreds' of employees are involved in decision-making, and board planning choices have been made 'without me being in the room.'"
Dive Insight:
Perhaps most interesting, if not entertaining, about this trial was Murdock's focus on banana boats during questioning. When pressed for answers about company finances, Murdock alluded to the company's boats needing new supplies, cargo carriers, and other costs. Delaware Chancery Court Judge Travis Laster and questioning lawyer Stuart Grant reminded Murdock to stay on task and Laster said, "Focus on the questions," reported Bloomberg.